London stocks rise in early trade; Oil stocks are gaining

The FTSE 100 increases in the first trades; Oil stocks are on the rise

FTSE 100 rises 0.2% to 7142.78 at start of trade, with shares helped by allaying fears about the Omicron variant of Covid-19, though concerns remain about the prospects for monetary tightening early by the US Federal Reserve. “Markets have regained some balance at the end of a difficult week marred by Omicron fears and increasingly hawkish outlook from central banks,” said Richard Hunter, Head of Markets at Interactive Investor . Even so, uncertainty remains and volatility is expected to remain high, he said. Oil price hikes are boosting heavy oil stocks, with BP the biggest gain, up 2%, although mining stocks are mostly down. Declining virus fears are pushing travel inventories, British Airways owner International Consolidated Airlines up 1.9%.

Companies News: 

Kenmare Resources appoints Andrew Webb as new president in 2022

Kenmare Resources PLC announced on Friday that it has appointed Andrew Webb chairman-elect and non-executive director, and will succeed current chairman Steven McTiernan after the company’s annual general meeting in 2022.

UK High Court dismisses UGC complaint against Petropavlovsk

Petropavlovsk PLC said on Friday that the UK High Court had dismissed the lawsuit filed by shareholder JSC Uzhuralzoloto Group of Companies against the company and its directors.

Increase in pre-tax profit of Duke Royalty 1H; sees full year performance beating market views

Duke Royalty Ltd. reported higher pre-tax profit for the first half of fiscal 2022 on Friday and said it was on track to exceed market expectations for the full year.

Wickes Group Raises 2021 Adjusted Pre-Tax Profit Guidance Due to Strong Sales

Wickes Group PLC said on Friday it had raised its 2021 adjusted pre-tax profit forecast after a strong fourth quarter performance so far, with sales in line with expectations.

Chariot Raises $ 9.5 Million in Equity Offering and Subscription

Chariot Ltd. said on Friday that he had raised a total of $ 9.5 million through a stock offering and subscription, and that he intended to raise up to an additional $ 2 million through an open offer.

Origo Auctions takes a stake in the molybdenum project in Mongolia

Origo Partners PLC announced on Friday that it was auctioning its 20% stake in Moly World Ltd.

i (x) Net Zero to list in London, raises £ 20million

i (x) Net Zero PLC on Friday announced plans to enter the London alternative investment market in late December, raising £ 20million ($ 26.6million) in a proposed placement.

Mind Gym achieved 1H pre-tax profit on higher revenues; appoints new CFO

Mind Gym PLC said on Friday it moved to pre-tax profit for the first half of fiscal 2022 as revenues returned to pre-pandemic levels, and that it had appointed Dominic Neary as its new financial director.

Nationwide Building Society appoints Debbie Crosbie as new CEO

The Nationwide Building Society announced on Friday that it has appointed Debbie Crosbie as its new executive director.

Ncondezi Energy sells green electricity in Mozambique for $ 1.3 million

Ncondezi Energy Ltd. announced on Friday that it had agreed to sell Mozambique Green Power to Green Energy SPV PLC for $ 1.3 million.

Downing Renewables & Infrastructure obtains two lines of credit

Downing Renewables & Infrastructure Trust PLC said on Friday it had secured two separate lines of credit through subsidiaries to fund acquisitions, refinance hydroelectric assets and meet capital expenditure requirements.

PPHE Hotel Group Limited Completion of the acquisition of Franz Ferdinand Resort


Shares of Swedish pharmaceutical company Sobi tumble after accession, Aurora withdraws nearly $ 8 billion takeover offer

Shares of Swedish company Orphan Biovitrium AB fell sharply on Friday after Advent International Corporation and Aurora Investment Pte Ltd withdrew their offer to acquire the Swedish drug maker for nearly $ 8 billion.

Octopus Renewables raises £ 73.9million for investments

Octopus Renewables Infrastructure Trust PLC said on Friday it had raised around 73.9 million pounds ($ 98.3 million) to invest in renewable energy assets and diversify its portfolio.


Contact: London NewsPlus, Dow Jones Newswires; Write to Sarka Halas at [email protected]

(END) Dow Jones Newswires

December 03, 2021 04:45 ET (09:45 GMT)

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Steve R. Hansen